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Petrol price in India is revised every day after adapting to dynamic pricing mechanism. Get today’s latest updated petrol price in Petrol Price In Ranchi
04 April 2020
₹ 68.77 /L
₹ 68.89 /L
₹ 68.96 /L
₹ 69.09 /L
₹ 69.20 /L
₹ 69.55 /L
For analysing the petrol prices in Rajasthan, let us consider 3 main
cities. The first being Jaipur, he state capital with a population of 3.04
lakhs. Next, we will talk about Jodhpur, the second largest city after
Jaipur with 1.14 lakh people residing in it. Third city that we will
consider is Kota, which has a population of 1.00 lakh as per census 2011.
Japiur, is the capital of Rajasthan and is also known as the Pink city. It
is one of the most popular tourist destinations in the country and has a
bustling commercial sector as well. Japiur has rich culture and houses some
of the most elegant forts in India. The architecture of the city is unique
and comprises of lakes and gardens as well. The city boasts of home grown
business of jewellery, textile and crafts. The city is also an Information
Recently, the central government has lowered/increased the excise duty by
on 4th October 2017. After the revision, petrol prices in Jaipur have
decreased to Rs.70.93. In September 2017, the highest rate in the city was
Rs.73.31 and the lowest rate was Rs.71.88. The entire month has seen a
growing trend. In August 2017, petrol rates have witnessed a growth rate of
5.34% in Jaipur. The highest rate was Rs.71.76 and the lowest rate was
Rs.67.93. Even in July 2017, petrol prices have moved in an upward
Jodhpur is the second largest city of Rajasthan and has a special place in
the history of India. It is also a popular tourist destination and features
many places like palace, forts and temples. Set against the backdrop of
Thar desert, the city has a character of its own. Most of the local traders
deal in glass bangles, marbles, textile, metal and other handicrafts.
In Jodhpur, the petrol price on 2 January 2017 was Rs.73.05. It was
decreased to Rs.69.22 on 1 April 2017. On 1 June 2017, the petrol price was
further reduced to Rs.69.81. On the opening day of July 2017, the petrol
rate in the city was Rs.65.70. In Kota, the petrol rate was Rs.72.78 on 2
January 2017 and was further dropped to Rs.68.96 on 1 April 2017. Between
August 2017 and October 2017, the petrol rate in the city has grown to
Rs.73.06 from Rs.67.60. There is no noticeable difference in petrol prices
among the three major cities of the state.
Kota is the third most populous city of Rajasthan following Jaipur and
Jodhpur. The city is home to tourists as well as students who come to
pursue higher studies. The city has historical importance and has
flourishing business. Kota is famous worldwide for its sarees, metal
handicrafts, stone as well foodgrains.
Mumbai has the highest price of petrol at Rs 86.72 per litre, followed by
Patna and Hyderabad at Rs 85.51 per litre and Rs 84.09 per litre, as on 4th
September 2018. The price of petrol in Jaipur is Rs 82.38 per litre. The
lowest price of petrol is in Chandigarh at Rs 76.36 per litre, followed by
Bhubaneshwar at Rs 78.16 per litre.
The government of India has changed its criterion of the fuel pricing. It
is now called the dynamic fuel pricing model. As per this new model
effective from 16th June 2017, the petrol price is calculated on a daily
basis instead of fortnightly basis. This model is aimed at bringing about
transparency and minimising incidents of manipulation by government and
political parties. Now, all the state-owned oil marketing companies such as
Indian Oil, Shell India, Bharat Petroleum, and Hindustan Petroleum are
following this model.
As per the dynamic fuel pricing model, rates will change at 6 am daily,
based on the change in previous day’s cost. The various ways through which
you can access the daily change in petrol prices are:
You can track the prices through the apps - Fuel@IOC - IndianOil. The app
lets you know a daily update on the revisions in all cities. It can be
downloaded by visiting the Google Play store and Apple Store. BPCL also has
a similar app called SmartDrive, while HP’s very own app is called MYHPCL.
Send a text - (Retail Sale Price) RSP< SPACE >DEALER CODE to
9224992249 (For Indian Oil)
For Bharat Petroleum, the number is 9223112222.
For Hindustan Petroleum, you can send an SMS HPPRICEDEALERCODE to
Note: Petrol re-filling stations also display the dealer code of each
You can access the daily petrol prices for Rajasthan on the Indian Oil
website using the RO locator. The website has prices listed as per the
retail outlets of Indian Oil.
Experts believe that this new pricing model will pass on the benefit of
even the minutest change in international oil prices to the dealers and the
consumers. Earlier, there could be sudden moves in petrol prices that could
be seen over the fortnightly calculation, the dynamic model removes such
anomalies. This way, India rises on the international stage and also joins
the other advanced countries, which already follow this fuel pricing model.
Industry insiders also believe that the Dynamic pricing model will help to
curb speculative forces and there will parity in the domestic as well as
international price of petrol and diesel.
The daily changes in rates of the petrol prices will make consumers more
aligned with the state. If there is a decline in crude oil prices, the
benefit will be passed on to the customer the very next day. On the other
hand, if the crude oil prices rise, the oil marketing companies will be
able to pass on the price hike to the consumers.
The petrol prices are higher than the neighbouring countries of Pakistan,
Bangladesh and Sri Lanka. The government, over the years has added many
taxes on the core fuel price, making it expensive for consumers. Moreover,
geopolitical situations in the US and the Gulf nations also pressurizes the
supply of crude oil, thus impacting petrol prices.
The government plans to bring about more measure to bring down the price of
petrol in India. However, it remains to be seen if the states co-operate
with the Centre, so that a long-term solution can be found to arrest the
rising fuel prices in India.
The pricing of petrol in Rajasthan is made up of different components,
Free on-Board Price (FOB):The purchase price of petrol is called Free On-Board Price. Actually, this
is the price paid by the Indian oil marketing companies to purchase the
crude oil from overseas dealers.
Customs Duty: Customs Duty is the tax imposed by the Government of India on the import of
crude oil. Currently it is …% of the crude oil price.
Import Parity Price: Import parity price (IPP) is the combined price of petrol paid by Indian
oil marketing companies at an Indian port. IPP is thus, the sum of import
charges, customs duty, and cost and freight price.
Refinery Transfer Price: Refinery transfer price is the price settled by oil marketing companies to
refineries for transferring the petrol there.
Inland Freight: Inland freight is the transportation price paid by oil marketing companies
for transferring petrol from refineries to retail outlets.
Depot Price: Depot price is the price that owners of retail outlets pay to purchase the
petrol from oil marketing companies.
Freight:The oil is imported from overseas dealers by Indian oil companies and thus
there is a transportation involved. The price paid for transportation of
oil is call Freight charges and this is added to the Free On-Board Price.
This combined price is known as the cost and freight price.
Import Charges: Three charges mainly add up to Import charges. These are insurance charges,
port dues, and ocean losses. The premium which is paid to the Insurance
provider for obtaining the monetary protection is called Insurance charges.
Port dues are charges paid in lieu of availing the facilities at the port.
Excise Duty: This is a duty imposed by the Central Government on petrol imported. This
rate would be uniform throughout the country. Currently VAT and road cess
charged is Rs. 19.48/Lt.
VAT: Value-added tax (VAT) is the tax imposed by the state government on
petrol. VAT differs across states. As on March 2018, the tax rate imposed
on petrol in Rajasthan was 32.95%.
The retail selling price of petrol in Rajasthan is the total of all the
above mentioned cost components.
The following factors affect petrol prices in Rajasthan:
Crude Oil Price: Petrol Price is directly related to the crude oil. If the
cost of crude oil increases, then the retail selling price (RSP) of petrol
will also increase. If it declines, the final price of petrol will also
decline. There are many factors which impact the cost of crude oil such as
seasonal variations, demand and supply factors, the exchange rate
Exchange Rate: The US Dollar is valued at the Indian rupees by the Reserve Bank of India,
which is the apex bank of India. Since crude oil is imported, a weaker
rupee means more the import cost. Hence, as the US Dollar gains against the
Rupee on the date of purchase, then the cost of crude oil also increases;
if the Rupee gains against the US Dollar on the date of purchase, the cost
of crude oil will also decrease.
Inventory:Apart from exchange rate and crude oil price, the rise and decline in the
supply of fuel will also impact its price. A low supply leads to an
increase in price and vice versa. As a practise, oil refining and marketing
companies maintain crude oil inventory to the extent of up to 6 weeks. This
also impacts the price of the fuel and things which are manufactured out of
Logistics:Petrol has to be transported to regions far from the depots across cities.
Hence, the cost of logistics also impacts the price of crude. Typically,
the price of petrol at retail outlets closer to the depots will be lower
than those located farther from it. This is because the companies do not
have to incur logistics cost for transportation to nearby locations.
Central Excise and VAT: Various taxes such as the Central Excise or VAT imposed by the Rajasthan
Government also impacts the petrol prices in Rajasthan. The higher the rate
of taxes, the higher will be the petrol prices and vice versa.
Petrol and petroleum products are out of the purview of the GST. Therefore,
as of now, the GST system has no impact on petrol prices in Rajasthan.
There is widespread speculation over the inclusion of diesel and petrol
under the GST regime in future. Experts predict that there could be a
combination of GST and VAT on petrol products, which is a policy followed
in other countries. However, the ultimate decision on this will be taken by
the Central government in times to come.
As on 4th September,2018, the average price of diesel was Rs.76.07 per
litre, whereas the average price of petrol was Rs.82.30 per litre. Petrol
and diesel prices, both have been on an increasing trajectory since the
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